Two MPC members helped GBP/USD to come to life

By FXstreet.com | August 20, 2014 AAA

FXStreet (Moscow) - GBP/USD rebounded from 1.66 support reaching 1.6629 before the MPC minutes release, and continued the move higher right after.



When two members dissent



Although the USD gets more popular every coming minute, the pound managed to recover part of its recent losses before the MPC release, and doubled the profits right after reaching 1.6678 high. We got to know there were two members voting to raise rates at the latest MPC meeting. It’s been a long time we have seen any dissents within the BOE camp, thus, no wonder the pound reacted with a rally. The next target to the upside may lie at 1.6680.



What are today’s key GBP/USD levels?



With spot trading at 1.6660, we can see next resistance ahead at 1.6674 (Daily 200 SMA), 1.6680 (Daily High), 1.6683 (Hourly 100 SMA), 1.6694 (Daily Classic R1) and 1.6728 (Weekly High). Support below can be found at 1.6653 (Daily Classic PP), 1.6626 (Hourly 20 EMA), 1.6617 (Monthly Low), 1.6617 (Weekly Low) and 1.6616 (Daily Open).



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